Poland: Good Starting Point for Economic Growth

PeopleOther ♦ Published: March 26, 2014; 13:57 ♦ (Vindobona)

Economic growth for 2014 is expected to accelerate to 3.1 percent to 3.2 percent in the first quarter while for the full year it is anticipated to come at 3.5 percent, according to Polish Economy Minister Janusz Piechocinski.

Growth in 2014 in Poland could come at around 3.5 percent, a number which is exceptional in the European Union. / Picture: © Wikimedia Commons / [Public Domain]

Private consumption will increase by 4.5 percent this quarter while construction output will grow by 3.5 percent and the market services sector by 3 percent. Unemployment is expected to stop growing as the number of vacancies will rise again.

Growth will be the result of a low base effect since economic growth in the first quarter a year ago war particularly low. Consequently,…